Yalla Group (NYSE:YALA) Stock Price Up 9.5% - Time to Buy?

Yalla Group Limited (NYSE:YALA - Get Free Report) shares shot up 9.5% on Tuesday . The company traded as high as $7.07 and last traded at $7.06. 2,050,970 shares traded hands during mid-day trading, an increase of 562% from the average session volume of 309,893 shares. The stock had previously closed at $6.44.

Yalla Group Stock Performance

The firm's fifty day moving average is $5.16 and its 200-day moving average is $4.52. The company has a market capitalization of $1.23 billion, a P/E ratio of 10.66 and a beta of 0.96.

Yalla Group (NYSE:YALA - Get Free Report) last issued its earnings results on Monday, March 10th. The company reported $0.18 earnings per share for the quarter. The firm had revenue of $90.83 million for the quarter. Yalla Group had a net margin of 40.72% and a return on equity of 21.80%. During the same quarter in the prior year, the business earned $0.17 EPS.

Hedge Funds Weigh In On Yalla Group

Several large investors have recently bought and sold shares of YALA. Robeco Institutional Asset Management B.V. increased its stake in shares of Yalla Group by 13.4% in the first quarter. Robeco Institutional Asset Management B.V. now owns 190,606 shares of the company's stock valued at $995,000 after buying an additional 22,541 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Yalla Group during the 1st quarter worth approximately $644,000. Blue Trust Inc. grew its holdings in Yalla Group by 23.5% during the 1st quarter. Blue Trust Inc. now owns 50,550 shares of the company's stock worth $264,000 after acquiring an additional 9,621 shares during the last quarter. GAMMA Investing LLC increased its position in Yalla Group by 265.8% in the 1st quarter. GAMMA Investing LLC now owns 85,044 shares of the company's stock valued at $444,000 after acquiring an additional 61,796 shares during the period. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Yalla Group by 123.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 26,173 shares of the company's stock valued at $106,000 after acquiring an additional 14,483 shares during the last quarter. 4.73% of the stock is currently owned by institutional investors.

Yalla Group Company Profile

Yalla Group Limited operates a social networking and gaming platform primarily in the Middle East and North Africa region. It provides mobile applications, including Yalla, a voice-centric group chat platform; and Yalla Ludo, a casual gaming application. The company's platform offers group chatting and games services; and sells virtual items, as well as provides upgrade services.